Hsbc Holdings PLC Sells 264,094 Shares of International Paper (NYSE:IP)

Hsbc Holdings PLC reduced its stake in shares of International Paper (NYSE:IP) by 26.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 734,935 shares of the basic materials company’s stock after selling 264,094 shares during the period. Hsbc Holdings PLC’s holdings in International Paper were worth $31,722,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IP. Ables Iannone Moore & Associates Inc. bought a new position in shares of International Paper in the fourth quarter valued at approximately $37,000. Janney Montgomery Scott LLC grew its holdings in shares of International Paper by 20.0% in the first quarter. Janney Montgomery Scott LLC now owns 105,061 shares of the basic materials company’s stock valued at $4,100,000 after acquiring an additional 17,516 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of International Paper by 1,896.7% in the fourth quarter. Wellington Management Group LLP now owns 210,215 shares of the basic materials company’s stock valued at $7,599,000 after acquiring an additional 199,687 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of International Paper in the first quarter valued at approximately $1,312,000. Finally, Brookstone Capital Management grew its holdings in shares of International Paper by 1,759.4% in the first quarter. Brookstone Capital Management now owns 251,355 shares of the basic materials company’s stock valued at $9,808,000 after acquiring an additional 237,837 shares in the last quarter. 81.95% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Stifel Nicolaus assumed coverage on International Paper in a research note on Tuesday, July 9th. They issued a “hold” rating and a $48.70 price objective on the stock. Royal Bank of Canada upped their price objective on International Paper from $52.00 to $56.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Argus upgraded International Paper from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Wednesday, August 14th. Seaport Res Ptn upgraded International Paper from a “hold” rating to a “strong-buy” rating in a research note on Friday, June 28th. Finally, Truist Financial upped their price objective on International Paper from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Three investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, International Paper presently has an average rating of “Moderate Buy” and an average target price of $50.21.

International Paper Trading Down 2.5 %

NYSE:IP opened at $48.71 on Friday. The company has a market cap of $16.92 billion, a P/E ratio of 99.41 and a beta of 1.04. The stock’s fifty day moving average price is $47.00 and its two-hundred day moving average price is $42.73. International Paper has a 1 year low of $31.76 and a 1 year high of $50.68. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.17.

International Paper (NYSE:IP) last posted its earnings results on Wednesday, July 24th. The basic materials company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.14. The firm had revenue of $4.73 billion for the quarter, compared to the consensus estimate of $4.78 billion. International Paper had a return on equity of 7.28% and a net margin of 2.34%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.59 earnings per share. As a group, analysts expect that International Paper will post 1.55 EPS for the current year.

International Paper Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, August 15th were given a $0.4625 dividend. The ex-dividend date was Thursday, August 15th. This represents a $1.85 dividend on an annualized basis and a dividend yield of 3.80%. International Paper’s dividend payout ratio (DPR) is presently 377.55%.

Insider Buying and Selling

In related news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $43.68, for a total value of $26,208.00. Following the sale, the director now owns 42,202 shares in the company, valued at $1,843,383.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, Director Kathryn D. Sullivan sold 600 shares of the stock in a transaction on Monday, July 15th. The stock was sold at an average price of $43.68, for a total value of $26,208.00. Following the sale, the director now owns 42,202 shares in the company, valued at $1,843,383.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Joseph R. Saab sold 2,440 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $47.30, for a total value of $115,412.00. Following the completion of the sale, the senior vice president now owns 18,668 shares in the company, valued at approximately $882,996.40. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 19,440 shares of company stock worth $927,956. Corporate insiders own 0.55% of the company’s stock.

International Paper Profile

International Paper Company produces and sells renewable fiber-based packaging and pulp products in North America, Latin America, Europe, and North Africa. It operates through two segments, Industrial Packaging and Global Cellulose Fibers. The company offers linerboard, medium, whitetop, recycled linerboard, recycled medium and saturating kraft; and pulp for a range of applications, such as diapers, towel and tissue products, feminine care, incontinence, and other personal care products, as well as specialty pulps for use in textiles, construction materials, paints, coatings, and others.